On a non-adjusted basisrnthere were 89,600 residential construction permits issued in September, up fromrn87,200 in August.  Single family permitsrndeclined from 55,000 to 53,700.  Permitsrnfor construction of units in buildings with five or more rose from 29,300 inrnAugust to 33,400 in September.</p

Housing starts overallrnwere at a seasonally adjusted annual rate of 1,017,000, an increase of 6.3rnpercent from the previous month and 17.8 percent higher than one year earlier.  August starts were revised upward slightly torn957,000 units. </p

The September increasernin starts was largely due to an 18.5 percent jump in construction starts forrnmultifamily units.  These rose fromrn298,000 in August to 353,000 in September, erasing part of the 31 percent droprnthe previous month. Single family starts were at a rate of 646,000, 1.1 percentrnhigher than the previous month.</p

On a non-adjusted basisrnthere were 93,200 units started in September compared to 86,000 in August.  Single-family construction accounted forrn56,900 of the starts, down from 58,500 a month earlier and multifamily startsrnrose from 25,800 units in August to 34,500 in September.</p

Housing completionsrnwere up 8.6 percent from August to a seasonally adjusted annual rate of 999,000rnfrom 920,000 in August.  An increase ofrn26 percent in multifamily unit completions, or about 76,000 more units annuallyrnthan in August accounted for most of that increase.  Single family completions were at a rate ofrn624,000, an increase of 1.0 percent. rnOverall completions were 31.3 percent higher than in September 2013 butrnmultifamily completions posted an annual increase of 93.7 percent.</p

On an unadjusted basisrnthere were 92,800 units completed in September compared to 88,500 inrnAugust.  Single family completions rosernby 1,900 units to 56,600 and multi family unit completions were up from 32,600rnto 35,500.</p

At the end of Septemberrnthere were 109,600 permits which had been issued but under which constructionrnhad not yet begun.  About 56,700 of thesernwere for single family construction and 62,700 were for homes to be built inrnthe South.  </p

Also at the end of thernreporting period there were 804,000 housing units under construction on a non-annualizedrnbasis.  This includes 426,900 multi-familyrnunits and 364,700 single family houses.  </p

Permits in thernNortheast were up 12.3 percent from the previous month and 19.0 percent fromrnSeptember 2013.  Housing starts rose 5.3rnpercent and 23.7 percent for the two periods and completions were up by 50.5rnpercent and 84.0 percent.</p

In the Midwest permitsrnrose 8.2 percent for the month but were down 2.8 percent on an annual basis.  Housing starts were up 3.5 percent for thernmonth and 8.6 percent compared to a year earlier. Units were completed at arnrate 4.8 above the previous month and were 40.0 higher than in September 2013.</p

The South saw a drop ofrn4.7 percent the number of permits issued compared to August and 4.5 percentrncompared to the previous September. rnStarts were 4.2 percent and 16.9 percent above levels the previous monthrnand year.  The housing completion raternrose 7.1 percent and 20.0 percent respectively.</p

There was an increasernof 5.9 percent in permits issued in the west and a 16.9 percent jumprnyear-over-year.  Housing starts rose 13.9rnpercent from August to September and were 25.0 percent higher than a yearrnearlier.  Housing completions fell inrnSeptember by -5.3 but remained 25.8 percent higher than the previous September.

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